Project report for Hair Dye

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India hair color market is segmented based on Product Type, Product Formulation, Gender, Application, Region and Company. Based on Application, market is segmented into Total Grey Coverage, Roots Touch-Up, Highlighting and Others. Total Grey Coverage segment is expected to lead the country’s hair color market in FY 2020 and is also expected to lead in future due to increasingly ageing population. Based on product type, the market is split into Temporary, Permanent, Semi-Permanent and Highlights and Bleach. Semi-Permanent hair color segment accounts for the largest market share mainly due to its ammonia free presence. Based on Product Formulation, the market is segmented into PPD Formulation and TDS/TD Formulation. The PPD Formulation segment accounts for the majority market share in India hair color market and the segment is likely to maintain its position during the forecast period. Most of the hair color companies use PPD formulation as it offers long-lasting hair color with a natural look and it can be used in both salon and at-home colors because it is such an effective ingredient in dark hair coloring. Hair coloring, or hair dyeing, is the practice of changing the hair color. The main reasons for this are cosmetic: to cover gray or white hair, to change to a color regarded as more fashionable or desirable, or to restore the original hair color after it has been discolored by hairdressing processes or sun bleaching. Hair coloring can be done professionally by a hairdresser or independently at home. Today, hair coloring is very popular, with 75% of women and 18% of men living in Copenhagen having reported using hair dye.

Market potential & Strategy

India hair color market was valued at INR 353, 660 Crores in Financial Year 2020 and is forecast to grow at a CAGR of over 17% until Financial Year 2026 due to various growth factors such as increasing urbanization and evolving lifestyles, growing hair-highlight trend, rising market for salon services and innovative tools used in salons to strengthen the ease of use of hair care products, which in turn would boost the sales value of hair colors and other related products. Another major factor is the increase in consumer hair related issues, which has led to several product innovations that accommodate the prevalent and changing tastes and preferences of consumers, thus facilitating the demand for hair care products. Also, fashion trends around the country are changing, which in turn, is encouraging hair color producers to introduce innovative new products to meet consumer demand.

Hair dye is a hair cosmetic used to dye the hair, which can change the hair color. Hair dyeing has become a fashion for people, not only popular among the younger generation, but also increasing in the elderly market. However, the increasing risk of carcinogenesis due to the chemicals in hair dyes has prompted the government to strictly regulate the chemicals used in hair dye production, which to a certain extent limits the growth of the global hair dye market. The increase in population aging has promoted the demand for white hair dyeing black, which has greatly promoted the development of the global hair dyeing market. Moreover, the fast pace of life in today’s society and tight work have caused a significant increase in gray hair and hair loss, which has brought a huge market for hair dyes. The improvement of people’s beauty awareness and the expression of the pursuit of individualization have also promoted the growth of the hair dye market.

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